Offshore driller Transocean has agreed to make an investment in Global Sea Mineral Resources (GSR), the deep-sea mineral exploratory division of DEME Group, in exchange for a non-controlling stake in the company.
Transocean has agreed to make a small cash investment as well as contribute its stacked drillship Ocean Rig Olympia for GSR’s ongoing exploration work. It will also contribute engineering services.
for GSR’s ongoing exploration work. It will also contribute engineering services.GSR intends to convert the drillship for a system integration test scheduled for 2025 to validate the technical and environmental feasibility of recovering polymetallic nodules in ultra-deepwater on a commercial scale.
“GSR has an excellent leasehold position, and we are excited to support its team in the effort to meet global demand for the critical minerals necessary for a lower carbon energy economy,” said Transocean’s CEO Jeremy Thigpen. “A mixture of all energy sources will be required to meet future global energy demands. Transocean’s work in deep sea minerals is another way we will continue providing essential offshore energy services.”
